Binance is one of the world’s largest cryptocurrency exchanges by trading volume. It was founded in 2017 by Changpeng Zhao (CZ) and originally based in China, but later moved due to regulatory concerns.
Key Features of Binance:
Trading: Offers spot, margin, and futures trading for hundreds of cryptocurrencies.
Staking & Earn: Users can earn interest or rewards by staking coins.
Launchpad: A platform for launching new crypto projects.
Binance Smart Chain (BSC): A blockchain network developed by Binance to support smart contracts and DeFi apps.
BNB Token: Binance’s native token, used for trading fee discounts and participation in token sales.
Regulatory Challenges:
Binance has faced regulatory scrutiny in several countries, including the US, UK, and parts of Europe. In 2023, CZ stepped down as CEO and Binance paid billions in fines to resolve U.S. investigations.
